Tet bonus figures start to roll in

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Numbers from Ho Chi Minh City Industrial Zones and Export Processing Zones Authority (Hepza) show that as of December 19, 2011 the top traditional Lunar New Year (Tet) bonus of around VND100 million ($4,750) belonged to a local firm based in Hiep Phuoc industrial zone (IZ).

Last year, the top Tet bonus of VND532 million ($25,300) was handed out by a foreign invested enterprise.

The second rung of over VND77 million ($3,600) was offered by a foreign-invested garment processing firm based in Tan Thuan export processing zone (EPZ).

The third cab off the rank of over VND67 million ($3,200) was set by a building material producer in Hiep Phuoc IZ.

Generally, the floor bonus level in domestic and foreign invested firms was VND2 million ($95) against the average VND3 million ($143) per capita.

According to head of Hepza’s Labour Department Ho Xuan Lam, based on operation fields, the highest Tet bonus was in the garment sector with a garment export processing firm based in Tan Thuan EPZ offering more than VND77 million. Second place went to the electrical and electronics field with over VND55 million ($2,600) and the third level of VND50 million ($2,380) was set by the mechanical engineering and food processing sectors.

Hepza also said labour intensive firms had engaged in outlining pay and Tet bonus plans and relevant allowances to their workers as of early December. Some firms will give out other allowances when labourers return to work after Tet. The trade union representatives in these firms said these measures were important to encourage labourers to return after the long Tet holidays.

Meanwhile, as of mid-December small and medium enterprise in IZs and EPZs were still unsure about their Tet bonus.

“This is time firms concentrate on production, debt collection and making up balance sheets. Hence, we will decide on Tet bonus in early January 2012,” said the director of a firm active in agricultural production.

Head of Ho Chi Minh City Department of Labour, Invalids and Social Affairs’ Wages and Labour Department Nguyen Thi Dan said the department has received a lot of feedback about enterprises’ Tet bonus and would make official announcements about the area’s bonuses on December 21.

Also on December 19, Ho Chi Minh City Labour Federation said eight districts including Tan Binh, Go Vap, Binh Tan and Districts 3, 10, 5, 11 and 12 had sent it brief reports on the 2012 Tet bonus.

Accordingly, at foreign invested firms, the ceiling level was set at VND65 million ($3,100) and the floor level at VND500,000 ($24). The corresponding levels at limited liability, joint stock and private firms and cooperatives were VND50 million ($2,380) and VND500,000; at state-owned firms these were VND15 million ($710) and VND2 million ($95).

At people’s committees at commune and ward levels, Tet Bonus figures in these districts were VND24 million ($1,100) and VND18 million ($850) for ceiling and floor levels respectively.